Arizona § 14-10817 Distribution on termination; release of trustee

Arizona Statutes

§ 14-10817 — Distribution on termination; release of trustee

Arizona § 14-10817

Title 14Arizona Revised Statutes

Ch. 11ARIZONA TRUST CODE

Art. 8Duties and Powers of Trustee and Trust Protector

This text of Arizona § 14-10817 (Distribution on termination; release of trustee) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 14-10817 (2026).

Text

A.On termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty days after the proposal was sent but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.

B.On the occurrence of an event terminating or partially terminating a trust, the trustee, within a reasonable time, shall distribute the trust property to the persons entitled to it subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses and taxes.

C.A release by a beneficiary of a trustee from liability for breach of trus

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A. On termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty days after the proposal was sent but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.

B. On the occurrence of an event terminating or partially terminating a trust, the trustee, within a reasonable time, shall distribute the trust property to the persons entitled to it subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses and taxes.

C. A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:

1. It was induced by improper conduct of the trustee.

2. The beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.